theory no: 999, page-5

I would suggest that if Hanlong and SDL are working toward the same goal, there is no need at all for SDL to announce a rejection of the bid (hence risking share price fall).

They will simply wait until the JV partner and possibly resource upgrade are ready to go (as they sound imminent) and then announce it altogether...no share price fall and only upside reaction...everyone wins

I wouldnt bet my left nut on it just yet but i am getting close...